DUBLIN (Reuters) - Europe's largest paper and packaging producer Smurfit Kappa expects the opening of its first North African plant in Morocco to set the stage for further expansion in a fast growing region for consumer goods, its chief financial officer told Reuters. "Morocco is the starting of a real presence in North Africa." Bowles said Smurfit would like to grow in Ecuador and become a much bigger player in Brazil following recent investments there. Smurfit reported a 13% rise in first quarter core profit in April, but saw volumes fall for a third successive quarter. "Consumers clearly are still worried about inflation and interest rates and the fear of recession, and that's clearly having an impact on volumes," Bowles said.

Source: The North Africa Journal July 12, 2023 05:03 UTC